Objective
To inform AREF members of developments in tax legislation and regulations affecting member fund types and to represent AREF in consultation and dialogue with UK and EU tax authorities, other relevant government bodies and other professional and trade bodies.
Membership Structure (Preferred)
| Chair | Chair is a member of AREF Management Committee and therefore, by definition, a Fund Management representative |
| Fund Management Representatives | Minimum 2 from different houses than Chair |
| Fund Administrator Tax Representatives | Minimum 1 |
| Independent Tax Advisers (Accountants) | Minimum 2 |
| Independent Tax Advisers (Lawyers) | Minimum 2 |
| AREF Secretariat | 1 |
Current Membership
Responsibilities
- Monitor and discuss all emerging UK and EU tax changes impacting on AREF member funds;
- Establish and maintain regular informal dialogue with appropriate HMRC and Treasury officials;
- Respond formally, under AREF name, to all formal tax consultations, other than those requiring joint submission with other groups;
- Where submissions involve both Tax and Regulatory responses, agree with Chair of AREF Regulation Committee where lead sits;
- Inform AREF membership promptly of urgent matters through AREF Executive function;
- Subject to approval of financial spend by AREF Management Committee, commission specialist advice or reports where there are benefits to a broad sample of AREF members;
- Review terms of reference annually.